Internet of things technology connects devices, collects data and, based on analysis of that information, provides users with the foundation to improve customer experience, manufacturing efficiencies and the bottom line. Three areas in particular will see an uptick in IoT deployments: energy, building maintenance and healthcare. Each will be uniquely impacted but each will experience a more streamlined business process as a result of the increased connectivity.
- Oil and gas industries will adopt more IoT technology. Vertical markets that currently require manual observation of equipment status, inventory levels and other metrics will start looking at using IoT solutions more. Oil and gas and other energy-related sectors are potential IoT targets. IoT has become a key to driving operational productivity. For example, SAS Insights reported on a U.S. oil and gas company that made oilfield production more efficient by using sensors to measure oil extraction rates, temperatures, well pressure and more for 21,000 wells. That resulted in 18.9 million readings, allowing it to identify opportunities for improvement as well as areas of potential concern. That data was released to field crews, which used it to make the necessary adjustments. The result was decreased downtime and increased production levels. The ROI is clear, according to SAS: “The company estimates that it loses $500 for every hour that a single oil well is not in operation. After analyzing the initial impacts of sensor deployment, the organization estimates that quicker oil well repairs saves approximately $145,000 in cost avoidance per month per field.”
- Building automation projects will encourage indoor IoT deployments. As energy sectors including oil and gas experience cost reductions as a result of implementing IoT technology, building
The Al Bahar Towers in Abu Dhabi (Source: Inhabitat/CC BY-NC-ND 2.0)managers will be encouraged to find further savings. An IoT solution using an intelligent gateway results in significant energy savings and reduced water consumption; an intelligent building management system can automatically turn building systems on or off as needed. For example, the Al Bahar Towers in Abu Dhabi can open and close its building louvers as needed, which has lead to 50% less solar gain and a corresponding reduction in CO2 emissions of 1,750 tons per year.
- Healthcare will continue to be a leader in using IoT technology. By 2019, 87 percent of healthcare organizations will adopt internet of things technology, according to a study from networking provider Aruba. Many of the solutions are aimed at reducing costs while maintaining quality of service. Statistics show that the average cost for patients in the United States was more than $2,000 per day in 2015 (most recent data). IoT technology can help reduce hospital costs. For example, remote monitoring products help healthcare professionals monitor patients who can live at home rather than in a nursing home or hospital. The big challenge for healthcare will be in preventing security breaches. For example, Healthpatch can be used for outpatient care by healthcare providers, providing them remotely with patient information such as ECG, heart rate, respiratory rate, skin temperature, body posture, fall detection and activity readings. Such solutions can alert doctors to potential health problems before they arise, or offer insights into which treatments will be most effective for particular patients, even when patients are not in the office.
